K2 Principal Fund L.P. Cuts Holdings in Solitario Resources Corp. (NYSEAMERICAN:XPL)

K2 Principal Fund L.P. trimmed its position in shares of Solitario Resources Corp. (NYSEAMERICAN:XPL) (TSE:SLR) by 17.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 550,000 shares of the basic materials company’s stock after selling 114,764 shares during the quarter. K2 Principal Fund L.P. owned approximately 0.68% of Solitario Resources worth $484,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Focused Wealth Management Inc grew its position in Solitario Resources by 76.7% during the second quarter. Focused Wealth Management Inc now owns 310,900 shares of the basic materials company’s stock valued at $275,000 after acquiring an additional 135,000 shares during the period. Renaissance Technologies LLC grew its position in shares of Solitario Resources by 11.1% during the second quarter. Renaissance Technologies LLC now owns 868,872 shares of the basic materials company’s stock worth $769,000 after buying an additional 86,854 shares in the last quarter. Finally, U S Global Investors Inc. bought a new position in shares of Solitario Resources during the second quarter worth about $266,000. 18.23% of the stock is currently owned by institutional investors and hedge funds.

Solitario Resources Trading Down 11.2 %

Shares of XPL stock opened at $0.74 on Tuesday. The company has a market cap of $60.05 million, a PE ratio of -12.29 and a beta of 0.92. Solitario Resources Corp. has a 1 year low of $0.43 and a 1 year high of $0.98.

Solitario Resources (NYSEAMERICAN:XPL) (TSE:SLR) last announced its quarterly earnings data on Tuesday, July 30th. The basic materials company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). Research analysts predict that Solitario Resources Corp. will post -0.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on XPL shares. HC Wainwright boosted their price objective on shares of Solitario Resources from $1.10 to $1.20 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Roth Capital upgraded Solitario Resources to a “strong-buy” rating in a report on Monday, June 10th. Finally, Roth Mkm initiated coverage on Solitario Resources in a report on Monday, June 10th. They set a “buy” rating and a $2.00 price target for the company.

Solitario Resources Profile

Solitario Resources Corp., an exploration stage company, engages in the acquisition and exploration of precious metal, zinc, and other base metal properties in North and South America. The company holds 50% interest in the Lik zinc-lead-silver property located in Northwest Alaska; 39% interest in the Florida Canyon zinc project located in northern Peru; and 85% interest in the Chambara exploration project located in Peru.